Crown Castle Inc. (NYSE:CCI) Shares Sold by Edgestream Partners L.P.

Edgestream Partners L.P. reduced its stake in Crown Castle Inc. (NYSE:CCI - Free Report) by 93.1% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,091 shares of the real estate investment trust's stock after selling 54,885 shares during the quarter. Edgestream Partners L.P.'s holdings in Crown Castle were worth $485,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. Kolinsky Wealth Management LLC bought a new position in shares of Crown Castle during the 3rd quarter valued at $267,000. Caisse DE Depot ET Placement DU Quebec lifted its holdings in Crown Castle by 86.7% in the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 560,000 shares of the real estate investment trust's stock worth $66,433,000 after purchasing an additional 260,000 shares in the last quarter. White Knight Strategic Wealth Advisors LLC boosted its position in shares of Crown Castle by 2.7% during the third quarter. White Knight Strategic Wealth Advisors LLC now owns 5,534 shares of the real estate investment trust's stock worth $656,000 after acquiring an additional 146 shares during the last quarter. Fred Alger Management LLC boosted its holdings in shares of Crown Castle by 2.8% during the 3rd quarter. Fred Alger Management LLC now owns 41,329 shares of the real estate investment trust's stock valued at $4,903,000 after purchasing an additional 1,111 shares during the last quarter. Finally, Captrust Financial Advisors grew its holdings in Crown Castle by 21.5% during the 3rd quarter. Captrust Financial Advisors now owns 17,919 shares of the real estate investment trust's stock valued at $2,126,000 after buying an additional 3,176 shares in the last quarter. Hedge funds and other institutional investors own 90.77% of the company's stock.

Analysts Set New Price Targets

CCI has been the subject of a number of recent research reports. The Goldman Sachs Group lifted their target price on Crown Castle from $105.00 to $120.00 and gave the stock a "neutral" rating in a report on Thursday, September 26th. Wells Fargo & Company increased their target price on shares of Crown Castle from $100.00 to $105.00 and gave the company an "equal weight" rating in a research note on Friday, October 18th. UBS Group raised their target price on shares of Crown Castle from $103.00 to $118.00 and gave the stock a "neutral" rating in a report on Thursday, October 17th. Bank of America upped their price target on shares of Crown Castle from $110.00 to $115.00 and gave the company a "neutral" rating in a report on Tuesday, August 13th. Finally, Citigroup set a $128.00 target price on Crown Castle in a research note on Thursday, October 17th. Twelve analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, Crown Castle has an average rating of "Hold" and a consensus price target of $116.87.

Crown Castle Stock Down 1.7 %

Crown Castle stock traded down $1.79 during trading on Friday, reaching $101.53. The stock had a trading volume of 1,197,357 shares, compared to its average volume of 2,601,066. The company has a quick ratio of 0.54, a current ratio of 0.54 and a debt-to-equity ratio of 4.43. Crown Castle Inc. has a 52-week low of $92.48 and a 52-week high of $120.92. The stock has a market cap of $44.12 billion, a PE ratio of 36.63 and a beta of 0.86. The business has a 50 day moving average price of $108.50 and a 200 day moving average price of $107.06.

Crown Castle (NYSE:CCI - Get Free Report) last issued its earnings results on Wednesday, October 16th. The real estate investment trust reported $0.70 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.73 by ($1.03). Crown Castle had a net margin of 18.59% and a return on equity of 20.98%. The company had revenue of $1.65 billion during the quarter, compared to analyst estimates of $1.64 billion. During the same quarter in the previous year, the company posted $1.77 EPS. The company's quarterly revenue was down .9% on a year-over-year basis. On average, analysts predict that Crown Castle Inc. will post 6.66 EPS for the current year.

Crown Castle Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Friday, December 13th will be paid a dividend of $1.565 per share. This represents a $6.26 dividend on an annualized basis and a yield of 6.17%. The ex-dividend date is Friday, December 13th. Crown Castle's dividend payout ratio is currently 221.99%.

About Crown Castle

Crown Castle owns, operates and leases more than 40,000 cell towers and approximately 90,000 route miles of fiber supporting small cells and fiber solutions across every major U.S. market. This nationwide portfolio of communications infrastructure connects cities and communities to essential data, technology and wireless service - bringing information, ideas and innovations to the people and businesses that need them.